Business Terminals

Exploring More Of Canada’s Favourite Credit Cards In 2021

Last week, the Unity Payments Blog explored some of Canada’s favourite credit cards in 2021. We highlighted the three credit cards that were considered the absolute best for cash back, low interest and rewards respectively. This week, we thought we would revisit this concept to provide some further insight into Canada’s favourite credit cards for other purposes. Let’s start some more exploring, shall we?

For balance transfers: Scotiabank Value® Visa* Card.

It’s not uncommon for Canadians to find themselves in situations where they could use a little extra help paying off their credit card balances. For such situations, the Scotiabank Value® Visa* Card is highly recommended. According to MyRateCompass.ca, it’s the card of choice for balance transfers. It comes with an incredible introductory offer of 0.99% for balance transfers. Therefore, during the first six months, cardholders can consolidate debt and save hundreds of dollars on interest.

“The Scotia Value Visa is aimed at individuals looking for a good balance transfer credit that offers decent privileges and a lower interest rate beyond the introductory promo period,” says MyRateCompass.ca, “Although it comes with a minimal fee, customers who cannot pay their balance in full can take advantage of the low post-promotional rate of 12.99%. Plus, if you regularly rent cars from Avis, then you might get the best value out of this card.”

For rebuilding credit: No Fee Home Trust Secured Visa Card.

Having a poor credit score is fun for no one. In order to get approved for loans, mortgages, car purchases and other major expenditures, a strong credit score is necessary. If you have bad credit and are looking to rebuild it, the No Fee Home Trust Secured Visa Card is for you. MyRateCompass.ca explains that almost anyone can be approved whether they have no credit, poor credit or have declared bankruptcy.

“To be approved for this secured credit card, the applicants need to provide a security deposit of $500 minimum and be of the age of majority in the province of residence,” the site explains, “This credit card does not offer any rewards but provides purchase protection to insure eligible items against theft or damage for 90 days from the date of purchase.”

For groceries: Scotia Momentum Visa Infinite Card.

There isn’t a single person alive who doesn’t need groceries. For that reason, the Scotia Momentum Visa Infinite is likely to appeal to just about everyone. According to MyRateCompass.ca, the Scotia Momentum Visa Infinite card gives its users 4% cash back for every dollar spent on groceries and recurring bill payments. It also offers 2% cash back for every dollar spent on gas and daily transit and 1% cash back for every dollar spent elsewhere.

“The Scotia Momentum Visa Infinite card was the winner of the MoneySense best cashback card with a fee in 2019 – and for good reasons!” reports MyRateCompass.ca, “Card holders earn cash back on all purchases at varying rates. There are also other perks of card ownership including access to exclusive Scotiabank events and offers, plus ample insurance coverage.”

Do you accept credit cards in your store?

At Unity Payments, we believe that the easiest and most convenient way for merchants to accept credit cards is with the Poynt Smart Terminal. To learn all about it, please don’t hesitate to call us at 1-800-661-3761. You may also email us at info@unitypayments.ca.

Author

Dan Faraldo